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LEADERS from New Zealand’s health technology industry are looking to Malaysia as a strategic investment opportunity to support the country’s rapidly growing healthcare market.

Malaysia’s healthcare sector is among the fastest growing industries in the country. Ambitious growth targets under the government’s Economic Transformation Program (ETP) put healthcare on course to contribute RM50.5 billion to Gross National Income by 2020, trebling the sector’s contribution over ten years.

Seven New Zealand health technology companies are visiting Malaysia to explore partnership opportunities and will be attending next week’s Association of Private Hospitals Malaysia (APHM) International Healthcare Conference and Exhibition in Kuala Lumpur.

Technology company founder Tony Blomfield says one of the biggest risks for a company breaking into the ASEAN markets can be the skittishness of other Western companies involved in the same project. Precept Health sells ‘critical care’ medical solutions into hospital intensive care units and operating theatres. The small, but swiftly-growing company’s largest footprint is in South-East Asia. Blomfield spends 75 percent of his time in Asia and has sold his systems into hospitals in Malaysia, Thailand, Brunei and Taiwan. He is in negotiations with hospitals in Vietnam, The Philippines and Indonesia.